bit of corrective action is ahead as strong German sentiment readings seem to leave the Swiss out offavor. It is also likely that the March Swiss is significantly overbought after the noted run up last week in the faceof the emerging market crisis talk. While the emerging markets crisis might re-emerge in the face of a decision tocontinue US tapering, the near term edge looks to be with the bear camp. Initial targeting in the March Swiss isseen at 1.1126 and then again down at 1.1002.
Technical Outlook: Momentum studies are trending higher from mid-range, which should support a movehigher if resistance levels are penetrated. The market’s short-term trend is positive on the close above the 9-daymoving average. The market has a slightly positive tilt with the close over the swing pivot. The near-term upsidetarget is at 112.95. The next area of resistance is around 112.42 and 112.95, while 1st support hits today at111.32 and below there at 110.74.